Bankruptcy Canada

Hero Section

Bankruptcy Canada: The #1 Debt Relief Experts In Canada

Filing Bankruptcy in Canada & Consumer Proposals. Let us help you with your debt.

Discover More Debt Help Consultation

Fill out the form below and get your Free & Confidential No‑Obligation Consultation

About Section

TRUSTED CONSUMER PROPOSAL ADMINISTRATORS AND BANKRUPTCY HELP EXPERTS

Canada’s Insolvency & Debt Relief Professionals

We have been online for over 20 years. We are proud to have helped Canadians from every walk of life get a fresh financial start.

Going bankrupt gives you a quick fresh start and is good for debtors with few assets and lots of unsecured debts. Your money problems can be solved with a consumer proposal if you have a good income and assets you would like to protect.

Over 100,000+ People Helped
Online Since 1999
430 Trustee Offices Across Canada
200,000 Canadians Helped!
Contact A Bankruptcy Trustee

Services Section

Our Service

We help people get a fresh financial start.
Personal Bankruptcy

Bankruptcy in Canada is a legal process that stops wage garnishments, collection calls and gives you a fresh start. You can keep your assets and bankruptcy is often the most affordable way to get debt relief. Speak to a Licensed Insolvency Trustee to learn how going bankrupt can provide debt and stress relief. Learn about surplus income payments, how to stop legal action against you, and how it will impact your credit rating and credit report.

Read more
How to File

Going bankrupt is a legal process that provides debt relief and government protection. Learn about the steps in the process, how much it costs, whether you are eligible and how you can get an automatic discharge in as little as 9 months!

Read more
Alternatives to Going Bankrupt

People struggling with debts who want to avoid bankruptcy have alternatives available to them. It should always be considered a last resort, after alternative debt solutions, such as a consumer proposal, have been explored.

Read more

Call to Action Section

Need to Get out of Debt and Stop Collection Calls?

Live Debt Free Get a Free Confidential Callback From a Trustee Confidential + No Obligation

Schedule a Free and Confidential Evaluation to Discuss All of Your Options. Keep Your Home and Car.

Contact a Licensed Trustee Today.

Faq Section

We help people get a fresh financial start.
We have been online since 1999 and have more than 430 trustee offices across Canada.

Get answers to all of your bankruptcy questions here!

How Bankruptcy Works
How Consumer Proposals Work
FAQs

Bankruptcy in Canada: The cost of going bankrupt is set by the government. The cost is the same regardless of the trustee you choose to work with.

What Alternatives to Bankruptcy Do Trustees Offer?

Licensed Insolvency Trustees are the only debt relief professionals who can provide a full range of debt solutions such as debt consolidation services, debt management plans and consumer proposals...[ Read More ]

What are the Differences Between a Consumer Proposal & Bankruptcy?

Consumer proposals vs Bankruptcy: Going bankrupt is the quickest manner of getting out of debt and usually works best for debtors with little income and assets. Consumer proposals offer an ability to repay a portion of your debt and works best for people who would like to protect certain assets that would be surrendered when going bankrupt and who have a steady income to pay into a debt proposal plan...[ Read More ]

What Happens When you Go Bankrupt?

Declaring bankruptcy provides immediate protection from creditors and debt relief. Your creditors will stop calling, interest stops accruing on your debts, and wage garnishments will end...[ Read More ]

What are the Requirements to File?

In order to go bankrupt in Canada you need to be insolvent and unable to repay your debt. You must also use a Licensed Insolvency Trustee to claim bankruptcy in Canada. You cannot go bankrupt on your own under the BIA...[ Read More ]

Can I Go Bankrupt in Canada?

Any individual in Canada who is insolvent may file for personal bankruptcy. In order to be insolvent you need to owe $1,000 or more and be unable to pay your debt as it becomes due...[ Read More ]

What Can I keep If I’m Claiming Bankruptcy?

Bankrupts in Canada are able to keep certain possessions under the insolvency law. The assets you can keep are known as exemptions, because your Trustee will not seize these assets. Most people claiming bankruptcy keep all their belongings and get a fresh start to their financial matters...[ Read More ]

Benefit Section

Benefits of Working With Our Licensed Insolvency Trustee Experts

The Team of Licensed Insolvency Trustees and Consumer Proposal Administrators of our Canadian insolvency team are the Most Experienced and Knowledgeable Debt Relief Experts in Canada

People struggling with credit card debt and mostly unsecured debts would likely benefit from going bankrupt, while debtors with secured debt might want to consider a consumer proposal.

Local insolvency trustees and consumer proposal administrators are available to assist you with getting out of debt.

Filing a consumer proposal allows you to save your assets and get out of debt, although it often takes longer than going bankrupt. Credit counselling is also available to help get your finances under control.

Only a Licensed Insolvency Trustee (LIT) is sanctioned and licensed by the Canadian government to provide insolvency and consumer proposal services.

All LITs (Licensed Insolvency Trustees, or formerly a bankruptcy trustee) in Canada are trained, experienced and ethically trained. BankruptcyCanada has chosen to partner with the top consumer debt proposal firms in Canada so you can get a fresh start.

Canadians that are trapped in debt are welcome to browse our website to find information on going bankrupt and alternatives to going bankrupt such as a consumer proposal or a debt consolidation service.

You will find answers to many of your initial consumer proposal questions right here.

Small Box Section

Credit Card Debt

Do you struggle to make your minimum payments? Are you over your limit on your credit cards? Learn how a trustee can help you eliminate credit card debt, or consolidate it into one low payment.

Payday Loans

Payday loans are often the worst way to borrow and can rapidly spiral into an out of control debt problem. We can help you break the stress of the payday loan cycle and the interest accumulation.

Solve Student Loans Debt

Long-term Student loan debt can be discharged through a Consumer Proposal or by Filing Bankruptcy if you have been out of school for 7 years (or 5 years in extreme cases).

Clear Overdue Bills

Are you behind on your bill payments? Is high interest loans causing you financial stress? We can help you stop collection calls, wage garnishments, and reduce your monthly payments.

Tax Debt Relief

Settle Tax Debts Owed to the Canada Revenue Agency With a Consumer Proposal. Our Consumer Proposal Administrators can help you draft an affordable payment plan that reduces your debts, include tax debt liabilities.

After Small Section

The bankruptcy process is governed by the Bankruptcy and Insolvency Act.

Once the process has started, you will receive protection from your creditors, and wage garnishments, lawsuits and any collections against you will stop.

During the process you will have to complete certain duties, and meet with your trustee for two credit counselling sessions.

A meeting of creditors is rarely called when a person goes bankrupt. Unsecured creditors are only impacted by going bankrupt, as secured debts are not discharged.

Secured creditors will still have to be paid if you wish to keep your house, vehicle or other secured debts.

As such, debts such as credit cards, personal loans, payday loan and income taxes can be included in your insolvency filing, but secured debt such as mortgage debt, alimony and child support cannot.

Bankruptcy proceedings can be over in as little as 9 months and you will have the ability to begin your fresh start once you have been discharged from your case. Bankruptcy Canada is here to help you with all of your debt relief needs.